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Biotech / Medical : Biotech Valuation

CRSP 58.08

+0.9%

Dec 11 3:59 PM EST

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To: Biomaven who started this subject	4/29/2001 11:55:38 PM
From: blackmerlin	of 52153

"Weekly BioRollerCoaster: On Monday 4-23-01, biotechnology continued their slide, marking three declining sessions for the American Biotechnology Index (BTK), after soaring the previous Wednesday in step with other indices boosted by the half percentage point rate reduction announced by the U.S. Federal Reserve. Monday's 4.4% loss in the BTK was followed Tuesday by a 3.2% drop. Bad news included halting of clinical trials for an experimental heartburn drug for one company, and suspension of enrollment of new patients for trials of a bronchitis drug for another company. The BTK, however, rebounded 5.2% on Wednesday. Good news for that day included a report of less than expected first quarter net loss for of an antibody therapeutics company. A major mature biotech company also announced a future two-for-one stock split. Biotech stocks held their ground on Thursday with the BTK down just 0.97%. The BTK soared again on Friday, rising 5.1% on news of less than expected quarterly losses announced by two of the leading genomics companies and a profit increase reported by the biotech sector's largest company. Because of strong losses early in the week, however, the BTK closed the week ending 4-27-01 up 1.34%...." (For additional commentary & individual stocks, see biobiznet.com).

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